In Finance, Retail

GNC announced an agreement to integrate its manufacturing division with IVC, a global leader in vitamins and nutritional supplement manufacturing, through a strategic joint venture. Under the terms of the agreement, GNC will receive an aggregate of $101 million from IVC in exchange for the net assets of the Nutra manufacturing facility and the Anderson facility and will retain an initial 43 percent ownership in the joint venture. Over the next four years, GNC will receive an additional $75 million, adjusted up or down based on the joint venture’s future performance, from IVC as IVC’s ownership of the joint venture increases to 100%. The joint venture will be responsible for the manufacturing of the products produced today by Nutra.

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